Rectification u/s 154 - Substitution of addition u/s 269SS with ...

Case Laws Income Tax

May 18, 2024

Rectification u/s 154 - Substitution of addition u/s 269SS with 69A - unsecured loans - assessee engaged in banking business - Enhancement of tax liability u/s 115BBE - The ITAT Ahmedabad, after hearing both parties, found discrepancies in the application of sections 269SS and 69A to the cooperative bank's case. The rectification order was deemed a typographical error without proper verification. The ITAT directed the AO to reexamine the applicability of section 69A, ensuring proper evidence and hearing, and allowed the appeals partly for statistical purposes.

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Rectification u/s 154 - Substitution of addition u/s 269SS with ...

Case Laws Income Tax

May 18, 2024

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